Alex Jones Tv: Feds Order 7 Day Restriction On Bank Withdrawlals!

Update: Citigroup Says Feds Ordered 7 Day Restriction On Bank Withdrawals
Announcement stokes fears of old fashioned bank runs if economy takes a turn for the worse

Paul Joseph Watson
Prison Planet.com
Monday, February 22, 2010

A new advisory being sent by Americas third largest bank to its account holders has stoked fears that major financial institutions could be preparing for old fashioned bank runs if the economy takes a turn for the worse.

Originally reported by John Carney over at the Business Insider website, Citigroup is sending the following information to customers along with their bank statements.

Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.

An almost identical advisory to the one being sent out can be read on page 22 of Citbanks Client Manual effective January 1, 2010, which can be read here from Citibanks own website.

We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past, states the manual.

According to the Future of Capitalism blog, Citigroup originally claimed that the warning was only sent nationwide as a result of a mistake, but that the measures do apply to account holders in Texas.

However, in a statement, Citigroup confirmed that they had reserved the right to impose the new 7 day rule on all account holders nationwide, but claimed they had no plans to enforce it. The bank stated that they had been forced to enact the new policy as a result of federal regulations.

When Citibank moved to unlimited FDIC coverage in 2009, we had to reclassify many checking accounts to allow for immediate withdrawals in order to ensure all customers qualified for the additional coverage. When we moved back to standard FDIC coverage with most major banks in 2010, Citibank decided to reclassify those accounts back to make them eligible again for promotional incentives. To do so, Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal. We recently communicated this technical requirement to our customers. However, we have never exercised this right and have no plans to do so in the future, reads a statement released by the bank.

Over the last 18 months, numerous rumors of bank runs, bank holidays, and limitations on access to cash at ATMs have been floating around. Citigroups new policy to restrict withdrawals wont do anything to calm such fears.

As we reported back in 2008, the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to insure about $1 trillion in assets across the nations financial institutions.

This revelation prompted fears that an accelerating amount of bank closures could absorb FDIC funds and leave holders of money market and traditional savings accounts exposed.
http://www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-...

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[Motoicon]

Put your money in local banks that are healthy. Keep at least $1,000 in cash at home. buy as much silver as you can reasonably afford. Have a stash of food, water, fuel, extra blankets, etc. Not a big deal. Just slowly aquire a few extra things and be ready to protect your family.

[Omexoplex]

He is spot on with the Citi Bank info folks...

[Americanjazzlady]

@Motoicon Sir, I believe that the Lord Jesus Christ is coming back much sooner than that. I just watched a gentleman speak on 2010 Prophetic Conference and he said that if the antichrist is close, the Lord Jesus Christ coming is much closer. We need JESUS now!!! Glory to God.

Yes, the Word is right. Basically, ignore and avoid creeps who are trying to start trouble with you. Been there, done that and will keep listening to what GOD tells me. I hate the Jezebel spirit!!

[Motoicon]

@Americanjazzlady Wow...Thanks for your kind comments....To me 10-20 years sounds about right but as the Bible says....Keep your lamps filled and wicks trimmed...Its interesting to see my comments made almost a year ago......The Prudent man forseeith the danger and hideth himself, but the simple pass on and are punished....

[Americanjazzlady]

@Motoicon God bless you. Jesus Christ is coming soon. 

[AntiVenomFangX]

i sweart to god, you alex jones people sound just like kids who dont understand why their parents are doing something.

[911truthseekers]

Your mind is the most important thing you have so protect that with all

you have and to educate yourself and research as much as you can.

Knowledge of man makes him unfit for slavery!

[surefoot4x4x4]

@gwengoad spoken like a true a-holio. U must b an obamacrat. hey did you know the kkk are and were democrats? thought not.

[mancreep]

colt seivers FTW MUTHA FUCKAS!

[exposetruthwolf]

AMERICAN'S-If you can't SEE-Alex Jones brings TRUTH-that Global Banks and Global Corps are systematically making YOU poor, RAPING LADY LIBERTY, all Assets(GOLD, Nat. Parks,All Treasury's money+$15 trillion debt, holding back 2 Trillion barrels oil-Gull Island,AK) Then You have been successfully DUMBED Down by Rockefeller's Public Education & Mercury in Vaccinations program. OUR Democracy is a DICTATORSHIP! OUR Politicians are VENDING MACHINE PUPPETS, put money IN & they DANCE! FK our MEDIA!

[gwengoad]

Is this Rush Limbaughs bastard child???